Baltic Export Alliance established to help Latvian exporters that encounter problems abroad

In order to represent the interests of Latvian exporters that encounter difficulties on foreign markets, the Baltic Export Alliance has been established, the author of the initiative Aigars Lazdans told BC.

According to Lazdans, the alliance will analyze Latvian exporters' experience and offer Latvian companies advice to avert or mitigate unsuccessful or risky deals with foreign cooperation partners. Laizans said that he had been approached by several businessmen who had run into problems on foreign markets, such as no payment for goods supplied or services provided.

Exporters do not always tell the public about problems they have to deal with on foreign markets, but that does not mean that such problems do not exist, stressed Laizans. The alliance will be a tool to draw attention to violations of Latvian companies' deals with foreign partners, violations of the law, and even shortcomings in the European Union's regulations. At the moment, there is no authority in Latvia to accept complaints about failed deals abroad and represent exporters' interests on the European level, said Laizans.

For now, the alliance will operate as a think tank, compiling companies' experiences, suggestions, and holding regular meetings with companies.

Problems that Latvian companies encounter abroad most often include violations of contract terms by their cooperation partners, in many cases Latvian companies are not paid for their work, and several Latvian companies have gone bankrupt as a result, said Laizans. The alliance will help companies join forces and report oopholes in the law that need to be mended, as well as cases when foreign cooperation partners do not honor their contractual obligations or refuse to pay Latvian companies, he said.

Judging from Latvian exporters' reports, most complaints are about dishonest business practices of Scandinavian cooperation partners, said Laizans.

EU economy’s future: slow but positive growthGrowth in all EU states will continue in 2019-20, though at a slower pace than before. The largest EU’s economies will grow at around 1,5-1,7%, mostly in Poland, Spain and Holland. The Baltic States’ growth will continue to be on the positive trend.